Selling a cottage or recreation property can sometimes be a transaction like that of a regular residential home. However, there are a number of issues that set this type of transaction apart that should be considered before listing. Two key issues are a different approach to marketing, and what information should be gathered ahead of time.
Today, all homes for sale should be marketed online. Studies show over 90% of property buyers now look exclusively online. Online marketing, however, means more than simply putting photos, taken by an agent, on Realtor.ca or on their own site. It means having a professional photographer photograph the property. However, good photos are useless if no one sees them. Therefore, the property needs to be marketed on many different sites. There are marketing companies that a Realtor can hire to work with that do just that. A far-reaching online marketing strategy is even more important when selling a recreational property such as a cottage. Often, the buyers for these do not reside in the area. These buyers must be reached out to online in the market in which they live.
While many aspects of a cottage sale mirror that of a regular residential transaction, buyers often have additional concerns when purchasing a recreational property. These include, but are not limited to, shore road allowances, rights of way, well and septic, road maintenance, nearby recreation and shopping amenities, and municipal services such as waste removal or dumping, and the possibility of paying capital gains taxes. Collecting answers to these questions ahead of time creates a more transparent listing where a buyer will feel more comfortable proceeding with a purchase.
Owning a cottage is a pleasure for many, and there are always buyers out there looking to get into this very Canadian way of passing leisure time. As a seller, you need to make sure your property is marketed properly and widely to connect with those buyers. Once they have decided your cottage might be the place for them, be ready with answers they may not have even considered. Do these things and both seller and buyer will reach their real estate goals more quickly and pleasurably.